Low-Latency.com

As reported in Low-Latency.com’s sister title Market Data Insight in December 2007, LiquidityHub, a consortium of leading investment banks, has confirmed its selection of FioranoMQ from Fiorano Software, a provider of business integration and SOA-ESB middleware solutions, as its messaging infrastructure for implementation of its trade messaging system. LiquidityHub is using the FioranoMQ 2007 Real Time messaging system to support a low latency, high-performance operational environment. LiquidityHub has standardised on Fiorano technology to underpin all of its real-time fixed income trade messaging system requirements.

Fiorano News Release

Technorati Tags: LiquidityHub, Fiorano Software, FioranoMQ

Atrium Network, provider of connectivity for the global financial services community, has opened a new office in New York. Atrium Network offers low latency connections to all the US exchanges and ECNs, and offers US clients connectivity to the European exchanges and Chi-X Europe.

Atrium News Release

Technorati Tags: Atrium Network, ECNs, Chi-X Europe

US market operator IntercontinentalExchange (ICE) says it has completed a two year upgrade of its technology infrastructure which included the transition of its futures markets to a new trading platform. The two-year initiative involved the rebuilding and optimisation of ICE’s trading software, hardware, network and security components to increase speed, access, capacity, reliability and functionality. The exchange says its platform now delivers average transaction times of three milliseconds in ICE futures markets and a blended average of seven milliseconds for futures and OTC markets. ICE says the enhancements have also produced consistency in performance, with fewer than 0.5 per cent of all futures transactions resulting in transaction times of more than 50 milliseconds.

ICE News Release

Technorati Tags: IntercontinentalExchange, ICE, futures trading, average transaction times

Progress Software has launched the Progress Apama Smart Order Router (SOR) Accelerator, enabling traders to create proprietary order routing strategies that intelligently select execution venues from among exchanges, multilateral trading facilities (MTFs) and dark liquidity pools. With the SOR Accelerator, institutions can now create aggregated views of market liquidity and capitalise on that liquidity with low latency trading algorithms that make real-time order routing decisions. The Apama SOR Accelerator helps both sell side and buy side firms address the stringent and complex regulatory demands of Europe’s MiFID and the US’s RegNMS for best execution, Progress claims.

Progress News Release

Technorati Tags: Progress Software, Progress Apama, Progress Apama Smart Order Router, smart order routing, trading algorithms, MiFID, RegNMS, best execution

There was quite a bit of M&A activity last week. Oracle and BEA for $8.5 billion (we’ll have to see whether that’s good news for BEA’s Weblogic Event Server), Sun Microsystems and MySQL for a billion, and NYSE-Euronext snapping up Wombat Financial Software for $200 million.
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Fixnetix, provider of ultra low latency market data, has signed an agreement with Chi-X Europe to deliver market data and trading connectivity. Fixnetix has connected to the Chi-X matching engine with a round trip latency as low as 400 microseconds, it says. Fixnetix can deliver data in multiple formats with sub-millisecond data transformation if required, and deliver these services on the wire for ease of integration. Whether co-located using Fixnetix’s Source hosting partners or connecting via the company’s Ethernet and Fibre networks, Fixnetix reckons it ensures financial institutions can directly access both Chi-X and any competing European exchange gateway utilising Fixnetix ultra low latency point to point network connectivity.

Technorati Tags: Fixnetix, Chi-X Europe, roundtrip latency, co-location

As first reported by Low-Latency.com’s sister portal AsiaMarketsIT.com last year (www.AsiaMarketsIT.com, June 1 2007), BT will provide the new Australian ECN AXE with connectivity and hosting through Radianz Proximity Solution, for electronic trading access and low latency market data distribution. Firms that trade on AXE will have the option to host their trading engines at a BT hosting facility to achieve the lowest execution time and avoid the natural latency that occurs when trading over distance. AXE joins nearly 50 execution venues that are already connected to the Radianz Shared Market Infrastructure.

Technorati Tags: BT, Radianz Proximity Solution, AXE ECN, electronic trading, low latency market data distribution, proximity hosting

Equinix, provider of network-neutral data centres and internet exchange services, has extended its Financial eXchange community in Europe with the addition of Chi-X Europe. Launched to help institutional investors achieve ultra low latency execution, Chi-X Europe is an order-driven pan-European alternative trading system. It will take advantage of Equinix’s premium data centre services and Financial eXchange approach to ensure the optimum performance and ultra low latency response times for its solution, according to Equinix. Chi-X Europe will join more than 40 other European customers that have already relocated their systems within Equinix’s network of Financial eXchange hubs to take advantage of the company’s proximity capabilities, the vendor claims.

Equinix News Release

Technorati Tags: Equinix, Financial eXchange, Chi-X Europe, proximity hosting

CME Group is to launch an upgrade to the CME Globex electronic trading platform that will significantly reduce message response time, as part of a raft of technology enhancements. During testing, under a replay of peak market conditions, the upgraded CME Globex platform demonstrated a more than 50 per cent reduction in response time, from an average of 31 milliseconds down to around 16.5 milliseconds. In 2007 an average 8.5 million contracts a day traded electronically at CME Group.

CME News Release

Technorati Tags: CME Group, CME Globex, message response time

Gissing Software, the solution specialist in the routing and transformation of real-time market and trade data recently acquired by Reuters, says the new alternative investment platform, launched by Malbec Partners, is using its technology as its core infrastructure. The system went live on November 1 2007. Mike Vieyra, CEO, Gissing Software, says: “The buy side demand for flexible, low latency market data infrastructures will continue to be a driving force for our business in 2008.”

Gissing Software News Release

Technorati Tags: Malbec Partners, Gissing Software, Reuters, quantitative algorithms, market data infrastructures